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Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
 The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into the new year) has kept the pressure on all dry bulk segments, pushing the indices down to levels not seen in very long time. The BDI ended the week at 862 points (-18.1%), a last reached just after the Lehman Bros shock in October and November 2008.
The individual segments read as follows: the BCI dropped to 1,554 (-9.8%), the BPI and the BSI to 1,020 (-19.3%) and 807 (-16.9%) respectively, and the BHI slipped to 485 points (-9.0%). All sizes continued to head south at the start of the new week.
Capesize
Another severe drop in the Capesize 4TC this last week as China prepared for its New Year celebrations, removing any possibility of a turnaround in the near term. At $6,688 per day by close on Friday, this represents the lowest level for eight months, and a 27% drop on the previous week. At these levels, lay-up has again become a reality. The Atlantic market saw the biggest decline with Bolivar-east Med dropping as much as 10% and Tubarao- Rotterdam 6%. In the Pacific, trade was fairly brisk but rates remained flat to slightly negative at $7.60-$7.65. Tubarao- China dropped 3% to $19.55 by Friday and was reported as low as $19.35. However in the FFA market, activity suggested rates may be close to a bottom, and overall Feb+Mar and Cal12 closed the week up, at $10,529 (+679) and $12,958 (+334). Monday saw another fall in the 4TC however, and the Cape time charter average is now trading at a 6% discount to the Handies.
Panamax
Last week saw the decline in Panamax rates continue unabated in the face of limited fresh cargoes and an ever growing tonnage list. The Atlantic market remained under pressure with the 1A index falling back from $10,731 to $7,824, and 2A index from $21,183 to $18,127. One of the primary drivers behind this trend (besides the distinct lack of cargo) has been the sheer number of ballasters arriving from the East. High coal stockpiles, uncertainty surrounding forward demand for both iron ore and steel products, and the imminent lunar New Year holidays have depressed demand in the Pacific, forcing many owners to search for business elsewhere. Both 1A and 2A markets have subsequently been hammered, with many fixtures in fact being reported at levels well below that of the current index. The supply side is unlikely to improve any time soon, as many newbuilds initially slated for delivery at the end of 2011 are pushed back into Q1 2012. The outlook in the coming weeks remains bearish, with reported 3-5 month period rates declining below $10,000 per day basis delivery Far East. There are some commentators who believe rates should decline less sharply in the coming week or two, although likewise it is also difficult to argue in favour of any sharp improvement.
Supramax/Handy
The Handy/Handymax market saw rates heading south throughout last week although at a slower pace than their larger cousins. The week started at almost $10,000 and closed at $8,500 for the Supras and $7,600 down to $6,900 for the Handies. A remarkable achievement in an otherwise dull market largely affected by the holidays in the Far East. No area was spared except maybe for South America where some activity started, together with the grain exports out of Argentina. That being said, the reduction of the available draft in the river is affecting owners’ revenue.
The rest of the world has been severely hit with the USG taking the biggest hit since there were reports last week of a TES 58 fixing at $13,500 for a trip to the Continent. Period activity has come close to zero, with no one willing to commit, although some index-linked deals randomly surface.
BRS wishing their Chinese readers a Gong Xi Fa Cai.
Source: Barry Rogliano Salles
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Wednesday, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
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- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Parliament of New Zealand
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
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